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Discontinued Operations (Tables)
 9 Months Ended
Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]  
Summary of Discontinued Operations in Financial Statements

The carrying amount of the assets and liabilities from discontinued operations, which were included within the Company’s prior Homebuilding segment, have been reclassified from their historical balance sheet presentation to assets and liabilities from discontinued operations as follows:

 

 

 

September 30,

2019

 

 

December 31,

2018

 

ASSETS

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

—

 

 

$

4,926

 

Restricted cash

 

 

—

 

 

 

1,231

 

Trade receivables

 

 

—

 

 

 

527

 

Real estate inventories

 

 

—

 

 

 

20,082

 

Other assets, net

 

 

—

 

 

 

1,102

 

TOTAL ASSETS

 

$

—

 

 

$

27,868

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

 

—

 

 

 

4,839

 

Notes payable - secured by real estate inventories, net of deferred financing charges

 

 

—

 

 

 

12,510

 

Income taxes payable

 

 

—

 

 

 

50

 

TOTAL LIABILITIES

 

 

—

 

 

 

17,399

 

 

The operating results of the discontinued operations that are reflected on the consolidated statement of operations within the net income (loss) from discontinued operations are as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue—homebuilding

 

$

1,305

 

 

$

11,497

 

 

$

14,919

 

 

$

27,767

 

Revenue—real estate services

 

 

—

 

 

 

1

 

 

 

—

 

 

 

138

 

Total revenue

 

 

1,305

 

 

 

11,498

 

 

 

14,919

 

 

 

27,905

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales—homebuilding

 

 

1,281

 

 

 

11,727

 

 

 

14,901

 

 

 

28,796

 

Impairment charges

 

 

—

 

 

 

1,354

 

 

 

—

 

 

 

2,128

 

Sales and marketing

 

 

89

 

 

 

280

 

 

 

270

 

 

 

703

 

General and administrative

 

 

1

 

 

 

—

 

 

 

21

 

 

 

—

 

Interest and real estate tax expense

 

 

—

 

 

 

13

 

 

 

—

 

 

 

74

 

Operating (loss)

 

 

(66

)

 

 

(1,876

)

 

 

(273

)

 

 

(3,796

)

Other (loss), net

 

 

—

 

 

 

(5

)

 

 

—

 

 

 

—

 

(Loss) from discontinued operations before income taxes

 

 

(66

)

 

 

(1,881

)

 

 

(273

)

 

 

(3,796

)

Income tax expense

 

 

—

 

 

 

6

 

 

 

10

 

 

 

23

 

Net (loss) from discontinued operations

 

 

(66

)

 

 

(1,887

)

 

 

(283

)

 

 

(3,819

)

Net income attributable to non-controlling interests

 

 

—

 

 

 

314

 

 

 

313

 

 

 

594

 

Net (loss) attributable to Comstock Holding Companies, Inc.

 

 

(66

)

 

 

(2,201

)

 

 

(596

)

 

 

(4,413

)